Are you searching for more competitive insurance rates in Colorado Springs, CO? Colorado Springs consumers have many options when looking for low-cost Audi A8 insurance. They can either spend hours driving around trying to get quotes or utilize the internet to compare rates.
There is a right way and a wrong way to shop for insurance so you're going to learn the absolute fastest way to price shop coverage on a Audi and obtain the lowest price.
How to Lower Your Insurance Rates
An important part of buying insurance is that you know some of the elements that help calculate the level of your policy premiums. When you know what positively or negatively controls the rates you pay, this allows you to make educated decisions that could help you find big savings. Many things are considered when pricing auto insurance. Some are obvious like an MVR report, but others are less apparent such as your credit history or how safe your car is.
The factors shown below are a few of the "ingredients" used by companies to determine your prices.
- How do annual miles impact rates? - The higher the mileage driven in a year's time the higher the price you pay to insure it. Many insurance companies calculate rates based upon how much you drive. Cars and trucks that have low annual miles can be on a lower rate level than cars that get driven a lot. Improper usage on your A8 may be costing you. Verify your car insurance declarations sheet states the correct driver usage, because improper ratings can cost you money.
- More than one policy can earn a discount - Most larger car insurance companies will award discounts to customers who consolidate policies with them in the form of a multi-policy discount. Even if you qualify for this discount already, it's still a good idea to compare other company rates to verify if the discount is saving money. You may still save even more even if you have your coverage with different companies
- Premiums are affected by your credit rating - An insured's credit rating can be an important factor in determining premium rates. Consumers who have high credit ratings tend to file fewer claims than drivers who have lower ratings. So if your credit score can be improved, you may save money insuring your Audi A8 by repairing your credit.
- Alarm systems save money - Driving a car with advanced anti-theft systems can help lower your premiums. Systems that thwart thieves like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help stop car theft and help bring rates down.
- High deductibles lower costs - Insurance for physical damage to your car, also called 'full coverage', is used to repair damage to your Audi. Examples of covered claims could be a broken side mirror, vandalism, or theft. Comprehensive and collision coverage deductibles tell how much you are required to spend out-of-pocket before a claim is paid by your company. The higher the amount the insured is willing to pay, the lower your rates will be.
- Safety first - Safer cars cost less to insure. Vehicles built for safety result in less severe injuries and lower rates of occupant injuries means lower claim amounts and thus lower rates.
Claims statistics for an Audi A8 - Car insurance companies use historical loss data to help calculate premium rates. Models that historically have increased losses will have higher rates.
The data below shows the compiled insurance loss statistics for Audi A8 vehicles. For each coverage category, the loss probability for all vehicles as a whole is set at 100. Percentages below 100 imply a favorable loss record, while numbers that are greater than 100 point to more losses or an increased likelihood of larger losses.
Insurance Loss Ratings for Audi A8 Vehicles Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Audi A8 4dr 4WD 289 108 261 Audi A8L 4dr 4WD 300 88 279 62BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance statistics and figures
The coverage table below outlines estimates of prices for Audi A8 models. Understanding more about how insurance premiums are established helps drivers make decisions on the best policy coverages.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|A8 4.2 Quattro 4-Dr Sedan||$394||$964||$396||$24||$118||$1,896||$158|
|A8 4.2L Quattro 4-Dr Sedan||$428||$1064||$396||$24||$118||$2,030||$169|
|Get Your Own Custom Quote Go|
Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Information does not factor in specific location which can revise premium rates substantially.
Insurance rate increases from tickets or accidents
The information below shows how speeding tickets and at-fault accidents can increase Audi A8 insurance prices for different ages of insureds. The rates are based on a married female driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
Comparison of car insurance rates by gender
The diagram below compares Audi A8 auto insurance rates for male and female drivers. The rates are based on no tickets, no at-fault accidents, comp and collision included, $500 deductibles, marital status is single, and no other discounts are factored in.
Full coverage rates compared to liability-only
The chart below shows the comparison of Audi A8 premium costs with and without full coverage. The data assumes a clean driving record, no claims, $250 deductibles, drivers are not married, and no policy discounts are applied.
When to drop comp and collision
There is no set rule for dropping physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let's assume your Audi A8 claim settlement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $4,000 after paying your deductible. If you are paying in excess of $400 annually for full coverage, then you might want to consider buying only liability coverage.
There are some conditions where only buying liability is not a good idea. If you haven't satisfied your loan, you have to carry full coverage to satisfy the loan requirements. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should not buy liability only.
Get cheap rates on Audi A8 insurance in Colorado Springs with these auto insurance discounts
Car insurance companies do not advertise all their discounts in a way that's easy to find, so the following is a list of some of the more common and the harder-to-find discounts that you can inquire about if you buy Colorado Springs auto insurance online.
- Active Military Service - Having a deployed family member could trigger a small discount.
- Driver's Education for Students - Require your teen driver to successfully take a driver's education course if offered at their school.
- No Claims - Claim-free drivers can earn big discounts in comparison to accident-prone drivers.
- Defensive Driver Discounts - Successfully completing a class that teaches driver safety techniques could cut 5% off your bill and make you a better driver.
- College Student Discount - Youth drivers who are attending college without a vehicle on campus can be insured at a reduced rate.
- Seat Belt Discounts - Drivers who always wear seat belts and also require passengers to wear their seat belts could save 15% off the medical payments premium.
- Accident Forgiveness - This isn't a discount exactly, but some companies like Allstate and State Farm will turn a blind eye to one accident before hitting you with a surcharge so long as you haven't had any claims for a specific time period.
A little note about advertised discounts, some credits don't apply to the entire policy premium. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So even though you would think having all the discounts means you get insurance for free, that's just not realistic.
The diagram below compares Audi A8 insurance prices with and without discounts applied to the policy rates. Data assumes a male driver, no violations or accidents, Colorado state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, multi-car, claim-free, and homeowner discounts applied.
To see companies who offer auto insurance discounts in Colorado, follow this link.
Best car insurance company in Colorado
Insuring your vehicle with the best insurance company can be difficult considering how many different insurance companies sell coverage in Colorado. The ranking information in the lists below may help you decide which auto insurance companies you want to consider when looking for cheaper rates.
Top 10 Colorado Springs Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- Mercury Insurance
- AAA Insurance
- State Farm
Top 10 Colorado Springs Car Insurance Companies Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- Titan Insurance
- The Hartford
- Mercury Insurance
More quotes mean more auto insurance savings
You just learned a lot of ways to save on Audi A8 insurance in Colorado Springs. It's most important to understand that the more providers you compare, the better your chances of lowering your car insurance rates. You may even find the best price on auto insurance is with some of the smallest insurance companies.
Consumers leave their current company for many reasons like questionable increases in premium, not issuing a premium refund, being labeled a high risk driver or policy cancellation. Whatever your reason, switching companies can be easier than you think.
When trying to cut insurance costs, it's very important that you do not reduce coverage to reduce premium. In many cases, drivers have reduced uninsured motorist or liability limits only to regret that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase plenty of coverage at the best price while still protecting your assets.
How to buy affordable Audi A8 insurance in Colorado Springs
Really, the only way to get the cheapest Audi A8 insurance is to make a habit of regularly comparing prices from insurers in Colorado Springs.
- First, try to comprehend the coverage provided by your policy and the measures you can take to keep rates low. Many things that increase rates like high-risk driving behaviors and an unfavorable credit rating can be rectified by improving your driving habits or financial responsibility.
- Second, quote rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from one company like GEICO or Farmers Insurance, while independent agents can provide price quotes from multiple sources.
- Third, compare the quotes to your current policy to see if a cheaper rate is available in Colorado Springs. If you can save money, make sure there is no lapse between the expiration of your current policy and the new one.
- Fourth, provide proper notification to your current company of your decision to cancel your existing policy. Submit the completed application along with a down payment to the new insurer. When you receive it, keep the new certificate verifying coverage with your registration paperwork.
The key thing to know about shopping around is to try to use the same physical damage deductibles and liability limits on every price quote and and to get price quotes from as many companies as feasibly possible. This helps ensure a fair price comparison and a good representation of prices.
Much more information about auto insurance in Colorado can be read at these links:
- Car Insurance FAQ (Trusted Choice)
- What Insurance is Cheapest for Drivers Under 21 in Colorado Springs? (FAQ)
- Who Has Cheap Car Insurance Rates for 4x4 Vehicles in Colorado Springs? (FAQ)
- Drunk Driving Statistics (Insurance Information Institute)
- Tools for Teen Driving Safety (State Farm)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)